BR100 Increased By (1.1%)
BR30 Increased By (1.4%)
KSE100 Increased By (0.91%)
KSE30 Increased By (0.93%)
BECO 5.73 Increased By ▲ 0.14 (2.5%)
BML 63.21 Increased By ▲ 2.18 (3.57%)
BOP 33.65 Increased By ▲ 0.40 (1.2%)
CNERGY 8.25 Increased By ▲ 0.20 (2.48%)
DCL 11.49 Increased By ▲ 0.19 (1.68%)
FCCL 52.97 Increased By ▲ 0.04 (0.08%)
FCSC 5.64 Increased By ▲ 0.30 (5.62%)
FFL 17.81 Increased By ▲ 0.20 (1.14%)
FNEL 1.31 No Change ▼ 0.00 (0%)
HUMNL 11.15 Increased By ▲ 0.03 (0.27%)
KEL 8.00 Increased By ▲ 0.11 (1.39%)
KOSM 5.50 Increased By ▲ 0.17 (3.19%)
MLCF 86.40 Increased By ▲ 1.05 (1.23%)
NBP 184.73 Increased By ▲ 3.44 (1.9%)
PACE 12.25 Increased By ▲ 0.72 (6.24%)
PAEL 40.45 Increased By ▲ 1.04 (2.64%)
PIAHCLA 25.75 Increased By ▲ 0.12 (0.47%)
PIBTL 17.33 Increased By ▲ 0.18 (1.05%)
PPL 226.40 Increased By ▲ 1.58 (0.7%)
PRL 34.40 Increased By ▲ 0.22 (0.64%)
PTC 65.90 Increased By ▲ 0.82 (1.26%)
SEARL 90.64 Increased By ▲ 1.04 (1.16%)
SSGC 26.87 Increased By ▲ 0.56 (2.13%)
TELE 8.59 Increased By ▲ 0.21 (2.51%)
THCCL 70.45 Increased By ▲ 1.11 (1.6%)
TPLP 11.31 Increased By ▲ 1.03 (10.02%)
TREET 24.57 Increased By ▲ 0.37 (1.53%)
TRG 71.79 Increased By ▲ 2.25 (3.24%)
WAVES 11.53 Increased By ▲ 0.50 (4.53%)
WTL 1.29 Increased By ▲ 0.02 (1.57%)

Mario-Draghi- 400BRUSSELS: Eurozone central banker Mario Draghi has been asked to justify his membership of an elite international financial forum by the EU after transparency campaigners claimed a conflict of interest, the bloc's watchdog said Tuesday.

European Central Bank president Draghi, at the centre of the debt storm stalking the recession-hit single currency for the last three years, stands accused of breaching European Union statutes governing "impartiality, independence and objectivity".

The complaint was brought by anti-lobbying NGO Corporate Europe Observatory and a probe was opened on July 24, the EU Ombudsman's office said on its website. The campaigners say Draghi should resign.

The complaint argues that the ECB chief's place in the "Group of 30", which describes itself on its website as a "nonprofit, international body" gathering figures from private and public sectors and academia, "is incompatible with the independence, reputation and integrity of the ECB".

"No investigation has been launched," Gundi Gadesman, spokeswoman for the ombudsman Nikiforos Diamantoros, told AFP on Tuesday, rejecting "dramatisation" two days before a crunch ECB meeting at which the central bank is under pressure to do more to help Spain.

"We have transmitted the complaint to the ECB," Gadesman said, adding that the ombudsman would offer "recommendations" after studying responses, but that these are "not binding".

"We do not have the power to impose sanctions," she underlined.

Group of 30 members are high-flying private and public bankers such as JPMorgan Chase International chairman Jacob Frenkel or former US Federal Reserve head Paul Volcker, and include Draghi's predecessor at the ECB, Jean-Claude Juncker.

Copyright AFP (Agence France-Presse), 2012

Comments

Comments are closed for this article.